API supports Trump administration’s action on regulations

The President and CEO of the American Petroleum Institute (API), Jack Gerard, has released a statement in support of US President Donald Trump’s executive action to establish regulatory reform task forces at government agencies to identify regulations that could be repealed, replaced or changed.

Mr Gerard said: “In the past few years, our industry has faced a regulatory onslaught with 145 new rules and regulations aimed at hindering the development of our nation’s energy resources. [The] action by President Trump will unleash innovation across the nation, and it will allow our economy to grow, help lower energy costs for consumers, and help American workers.

“We are the number one producer and refiner of oil and natural gas, and we are leading the world in lowering carbon emissions. In order to continue our nation’s leadership on these critical issues, we must have smart, common-sense regulations that will continue to drive innovations in technology and support America’s energy renaissance.”